Source: Mining.com
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  • Sirios Resources (SOI) observed visible gold during the current drill program at its Cheechoo Gold Property
  • The Cheechoo Gold Property is located in Eeyou Istchee James Bay, Quebec
  • Visible gold was observed in ten instances in five of nine drill holes during the now-completed drill program
  • The objective of the definition drilling program is to better define the Cheechoo deposit and initiate an updated resource estimate
  • Sirios Resources is unchanged, trading at $0.095 at 11:21 am ET

Sirios Resources (SOI) observed visible gold during the current drill program at its Cheechoo Gold Property.

Visible gold was observed in ten instances in five of nine drill holes during the now-completed drill program.

The Cheechoo Gold Property is located in Eeyou Istchee James Bay, Quebec, less than 9 kilometres from Newmont’s Eleonore gold mine.

A total of 2,517 metres of drilling has been completed to date on the Cheechoo Gold Property.

The presence of visible gold, as well as the lithologies intersected, are in accordance with the expectations of Sirios’ geologists and the modelling of the gold deposit.

The Quebec-based mining company’s management has decided to complete further work using diamond drilling. The definition drill program will continue by diamond drilling on the sites initially planned. The total number of metres to be drilled could be modified.

The objective of the definition drilling program is to better define the Cheechoo deposit and initiate an updated resource estimate as early as 2022.

The latest resource estimate for the Cheechoo project in October 2020, estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 grams per tonne of gold, with significant potential to increase the resource.

Sirios Resources is unchanged, trading at $0.095 at 11:21 am ET.

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